Kambi Raises 2026 Adjusted EBITA Guidance to €26m After Q3 Revenue Hits €46m
Kambi lifted 2026 adjusted EBITA guidance to around €26m after Q3 revenue grew 23% to €46m and adjusted EBITA surged 161% to €7.9m. A 10-year Station Casinos partnership and AI on 85% of bets drive the update, while Brazil's gambling ban clouds long-term potential despite low current exposure. (48 words)
SCCG Take — Network scale plus AI trading efficiencies enable suppliers to absorb regulatory shocks in single markets while expanding in stable North American jurisdictions. (22 words)
Kambi Group raised its full-year 2026 adjusted EBITA guidance to around €26m. Third-quarter revenue rose 23 per cent to €46.0m while adjusted EBITA increased 161 per cent to €7.9m, according to reporting by Focus Gaming News.
Nine-month revenue totalled €135.4m, up 13.5 per cent. Adjusted EBITA for the January-to-September period reached €21.2m, more than double the prior-year figure, at a margin of 15.7 per cent. Gross profit for the quarter stood at €37.2m with an 80.9 per cent margin. Operating expenses held steady near €29.2m, and cash flow excluding working capital, M&A and financing activities was €6.6m.
Commercial Expansion and AI Deployment
Kambi agreed a 10-year omni-channel sportsbook and PAM partnership with Station Casinos in Nevada, with launch planned via regulatory field test in the coming weeks. The supplier added Turnkey Sportsbook agreements with Pure Casino Entertainment and QuinnBet plus an Odds Feed+ deal with RETABET. It also supported operator launches in Alberta's newly regulated online market.
AI trading accounted for 85 per cent of network bets, with rollout extended to basketball, American football and table tennis. Werner Becher, CEO of Kambi Group, said 59 per cent of all live bets traded by AI are now accepted with zero-second delay. The quarter produced an operator trading margin of 11.9 per cent, the second-strongest in Kambi's history.
Brazil represented a low single-digit percentage of 2026 revenue. Becher noted the online gambling ban there could remove the long-term growth potential of the market.
Forward Position After Guidance Revision
The revised guidance replaces the prior €23-27m range and reflects commercial momentum, cost discipline and AI-driven efficiencies. Consolidation of Abios, Shape Games and Tzeract under the Kambi brand has produced a leaner structure focused on network scale. Regulated-market gains in North America offset isolated regulatory reversals elsewhere, positioning the supplier to maintain margin stability through geographic and technological diversification.
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